Banking change may mean more interest for county

Written by Deb Egenberger
Wednesday, 05 January 2011 18:37

LEXINGTON—By using a different investment product for deposits, Dawson County could gain a few dollars in the interest column.

Toby Owens, president of Pinnacle Bank in Lexington, and Dawson County treasurer Sharon Wood explained the Certificate of Deposit Account Registry Service (CDARS) program to commissioners during their final meeting of 2010 on Dec. 30.

CDARS is an alternative to money markets and allows investors to access FDIC insurance on multi-million-dollar deposits.

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